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Western Digital Corporation (WDC)

  • Jan. 23, 2013, 12:05 AM
    | Jan. 23, 2013, 12:05 AM | Comment!
  • Jan. 22, 2013, 5:35 PM
    | Jan. 22, 2013, 5:35 PM | 3 Comments
  • Jan. 22, 2013, 10:15 AM
    Western Digital (WDC +4%) trades higher after announcing it recently bought Arkeia, a provider of storage backup software and VMware backup appliances for SMBs. The purchase expands WDC's enterprise lineup - the company already offers NAS servers  for SMBs - and (as The Register observes) puts it in competition with Seagate's (STX +1.4%) EVault backup/recovery product line. It also helps WDC lower its PC dependence a bit at a time when doing so seems a good idea.
    | Jan. 22, 2013, 10:15 AM | 1 Comment
  • Jan. 11, 2013, 11:27 AM
    Global PC shipments, Windows 8 hardware and all, fell 6.4% Y/Y to 89.8M in Q4, according to IDC. That's slightly better than Q3's 8.6% drop, but worse than a forecast for a 4.4% decline. The decline might have been larger if inventory replenishment didn't lead U.S. shipments to fall a relatively modest 4.5%. IDC still considers H-P (HPQ -2.1%) the world's top vendor, and estimates its share rose 90 bps Y/Y to 16.8%. But #3 Dell's (DELL -1.6%) share fell 190 bps to 10.6%. Apple's U.S. share rose 50 bps to 11.4%. AMD -1.9%. STX -1.3%.
    | Jan. 11, 2013, 11:27 AM | 11 Comments
  • Jan. 10, 2013, 11:10 AM
    Microsoft (MSFT -0.9%) edges lower after Morgan Stanley downgrades shares to Equal-weight. "Win 8 is disappointing, the PC market will remain weak for awhile and margins are likely capped. As such, the stock is likely range-bound," the firm argues, while adding the fact 60% of businesses are now on Win. 7 will hurt corporate PC sales. However, it grants the PC issues may be priced in at 8x EPS. Yesterday, BGC forecast a 6% Y/Y drop in Q4 PC sales, but argued Microsoft still has much going for it in its enterprise ops. (Argus)
    | Jan. 10, 2013, 11:10 AM | 8 Comments
  • Jan. 8, 2013, 4:24 PM
    Seagate (STX) +1.9% AH after stating it expects to report FQ2 (Dec. quarter) revenue of at least $3.6B, above prior guidance of $3.5B and a consensus of $3.53B. Gross margin is expected to come in at 27%, down from FQ1's 28.4%. Seagate adds it bought back a whopping 30M shares in the quarter; it repurchased 20.5M shares in FQ1, and 139M in the whole of calendar 2012. WDC +2.4%. LSI +1.2%. MRVL +0.8%. Seagate's recent rally seems to be tempering the market's enthusiasm. (PR)
    | Jan. 8, 2013, 4:24 PM | Comment!
  • Dec. 27, 2012, 12:07 PM
    Windows 8 (MSFT) is being adopted at a slower rate than the much-maligned Vista, and a much slower rate than Windows 7, according to usage data from Net Applications. As of Dec. 22, Win. 8 was used on an estimated 1.6% of all Windows PCs. This compares with 2.2% for Vista at a similar point in its release history, and 6%+ for Win. 7. Consumer PC demand remains tepid, and many enterprises have made it clear they have no interest in upgrading to Win. 8, at least for now.
    | Dec. 27, 2012, 12:07 PM | 23 Comments
  • Dec. 24, 2012, 3:02 PM
    "If people used to buy PCs every four years and are now buying them every five years, that could lower PC sales by 20 percent over time," says Bernstein's Tony Sacconaghi, quoted in an NYT column discussing the lukewarm reception for Windows 8, which arrived as tablets were already pushing out replacement PC purchases. NPD believes U.S. retail Windows PC sales fell 13% Y/Y from the time of the Win. 8 launch to the first week of December, though that's better than a late-November estimate.
    | Dec. 24, 2012, 3:02 PM | 12 Comments
  • Dec. 20, 2012, 11:21 AM
    AMD (AMD -4.2%) is slumping, and Intel (INTC -0.5%) and Nvidia (NVDA -0.6%) are slightly off, after Evercore's Patrick Wang joins the estimate-cutting parade, and co-worker Rob Cihra offers mixed commentary about PC demand. While holding out hope Windows 8 and China will lead demand to stabilize in 1H, Cihra notes many industry suppliers appear to have under-shipped end-user sales (which themselves aren't great) in Q4 thanks to inventory drawdowns. "Early ultrabooks have been stymied by high prices and Win8 so far looks like a remarkable non-factor.," he adds.
    | Dec. 20, 2012, 11:21 AM | Comment!
  • Dec. 19, 2012, 11:14 AM
    Seagate (STX +3.1%) and Western Digital (WDC +4.1%) pop after receiving upgrades to Buy from Craig-Hallum. The firm cites hard drive inventory reductions and lower expectations, and a lack of pricing changes. Judging by their current valuations, investor expectations for STX and WDC are definitely quite low. JPMorgan downgraded Seagate last week, while Barron's named both companies to its list of top 10 picks for 2013. Hard drive controller supplier Marvell (MRVL +1.9%) is also up.
    | Dec. 19, 2012, 11:14 AM | 2 Comments
  • Dec. 17, 2012, 5:15 PM
    Digitimes provides another gloomy tidbit for PC component suppliers, stating most PC-focused Taiwanese chipmakers are expected to see a 10% M/M December sales drop on top of a similar drop for November. Both weak PC demand and OEM inventory liquidations are said to be culprits - analysts have already raised alarm bells about the inventory problems faced by Intel (INTC) and others. Last month, the site noted contract manufacturers are pressuring component vendors to lower prices.
    | Dec. 17, 2012, 5:15 PM | 1 Comment
  • Dec. 12, 2012, 4:09 PM
    In downgrading Seagate (STX -4.4%) to Underweight, JPMorgan's Mark Moskowitz cites not only a declining hard drive market, but also expectations of share loss following big gains in late 2011/early 2012 thanks to Thai manufacturing disruptions. JPM's research indicates Seagate stands to lose share in the enterprise and notebook hard drive markets over the next 6-12 months, as long-term deals with OEMs unwind. Those remarks could be why Western Digital (WDC -0.8%), which has a habit of rising/falling with Seagate, hardly budged.
    | Dec. 12, 2012, 4:09 PM | Comment!
  • Dec. 12, 2012, 8:13 AM
    Seagate Technology (STX) is downgraded to Sell at JPMorgan, which cites a revision to shrinkage from growth in expected hard disk drive unit demand in 2013. Shares -3.6% premarket. Western Digital (WDC) -1.1% premarket.
    | Dec. 12, 2012, 8:13 AM | 2 Comments
  • Dec. 10, 2012, 7:04 PM
    More on Intel: Miller Tabak has become the latest in a line of firms to slash estimates on Intel and provide negative industry commentary along the way. The sales of Taiwanese contract manufacturers appear to have fallen 5% M/M in November, MT claims, even though November is seasonally strong. It now expects an 8% Y/Y sales drop for Q4, and argues Intel faces a "double headwind" of weak PC sales and excess inventory. Shares are still rated Neutral on account of Intel's valuation and dividend (4.5% yield). (previous: I, II)
    | Dec. 10, 2012, 7:04 PM | 1 Comment
  • Dec. 10, 2012, 10:38 AM
    Western Digital (WDC +3%) and Seagate (STX +3.3%) are up after WDC is named one of Barron's top 10 picks for 2013: the paper cites the hard drive maker's rock-bottom valuation, strong balance sheet, and pledge to return 50% of free cash flow to shareholders. It also likes the ongoing growth in storage demand even as PC sales falter; and the stable pricing that stems from WDC and Seagate's combined 80% share of the hard drive market. Seagate was named a top pick for 2012, and is up over 60% YTD.
    | Dec. 10, 2012, 10:38 AM | 1 Comment
  • Dec. 5, 2012, 1:57 PM
    Western Digital (WDC +8.4%) and Seagate (STX +4.6%) are up strongly in the absence of major news hitting the wires. WDC announced yesterday morning it would accelerate a dividend payment, but shares hardly budged in response. Low valuations - the hard drive makers both trade near 5x estimated FY13 EPS, and have sizable cash balances - could be enticing bargain-hunters. (previous)
    | Dec. 5, 2012, 1:57 PM | 4 Comments
Company Description
Western Digital Corp is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments & other organizations to create, manage, experience & preserve digital content. Its products include HDDs and SSDs.
Sector: Technology
Country: United States